Hankyung Bloomingbit·STAT, MOU with Armilla AI…"AI Technology Cooperation"

Hankyung Media Group's blockchain subsidiary Bloomingbit and trader utility token STAT announced on the 3rd that they have signed a tripartite memorandum of understanding (MOU) with Canada's renowned artificial intelligence (AI) startup Armilla AI.

Bloomingbit develops and operates Bloomingbit, the largest virtual asset (cryptocurrency) investment information platform in Korea, used by 150,000 people. STAT is a company that develops and supplies solutions that analyze investors' statistical information and trading data based on application programming interface (API) data.

Armilla AI is known as an AI risk management service and solution company, advised by Yoshua Bengio, a world-renowned authority in the field of deep learning and a recipient of the 2018 Turing Award, known as the 'Nobel Prize of Computer Science'. Armilla AI's major partners include Swiss Re, the world's second-largest reinsurer, and the Chaucer Group.

Through this MOU with Armilla AI, Bloomingbit and STAT plan to cooperate based on Armilla AI's technology in the process of building and enhancing the AI-based Market Sentiment Analysis service they are currently co-developing.

Kim San-ha, CEO of Bloomingbit, said, "Investment-related services involve real money transactions, so trust is paramount. Solving chronic AI issues such as hallucinations was crucial in preparing AI-based investment information services. We are pleased to partner with Armilla AI, which possesses specialized solutions and technology. Bloomingbit will continue to strive to create services that users can trust."

Karthik Ramakrishnan, CEO of Armilla AI, said, "Korea is a key market for Armilla AI, actively pursuing digital transformation and AI adoption in both large corporations and the startup ecosystem. We are delighted to begin collaboration with Bloomingbit and STAT, who are rooted in the virtual asset community based on trust, to implement 'trustworthy AI', and we look forward to various collaboration opportunities with clients in the Korean market."

Yang Hwan-jun, CEO of Armilla Korea, said, "We are pleased to partner with Bloomingbit and STAT. We will do our best to actively hedge clients' AI risks and protect them from AI risks through Armilla AI's technology and services, ensuring that clients' AI services are deployed and operated more robustly and reliably."

Park Joo-hwan, co-CEO of STAT, said, "We expect this partnership to be a great help in the process of developing and launching AI-based Market Sentiment Analysis services and expanding them into various AI products."